Sonic Co. (SONC) Director Sells $118,904.25 in Stock

Sonic Co. (NASDAQ:SONC) Director Federico F. Pena sold 4,575 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $25.99, for a total transaction of $118,904.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Federico F. Pena also recently made the following trade(s):

  • On Monday, October 23rd, Federico F. Pena sold 1,161 shares of Sonic stock. The stock was sold at an average price of $25.20, for a total transaction of $29,257.20.

Shares of Sonic Co. (NASDAQ:SONC) opened at $26.49 on Monday. The company has a debt-to-equity ratio of -2.87, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a market cap of $1,018.75, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 1.18 and a beta of 1.74. Sonic Co. has a one year low of $22.11 and a one year high of $30.05.

Sonic (NASDAQ:SONC) last posted its earnings results on Thursday, January 4th. The restaurant operator reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. Sonic had a net margin of 13.68% and a negative return on equity of 28.95%. The firm had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $106.86 million. During the same period in the previous year, the company earned $0.24 earnings per share. The company’s revenue was down 18.7% compared to the same quarter last year. equities research analysts predict that Sonic Co. will post 1.53 EPS for the current fiscal year.

Sonic announced that its Board of Directors has authorized a share buyback program on Thursday, October 26th that permits the company to repurchase $160.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase up to 14.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Wednesday, February 7th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, February 6th. Sonic’s payout ratio is 43.24%.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Sonic by 1.2% in the second quarter. Vanguard Group Inc. now owns 3,596,500 shares of the restaurant operator’s stock worth $95,272,000 after buying an additional 43,146 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sonic by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,962,894 shares of the restaurant operator’s stock worth $49,955,000 after buying an additional 15,963 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of Sonic by 25.4% in the third quarter. Macquarie Group Ltd. now owns 1,462,539 shares of the restaurant operator’s stock worth $37,222,000 after buying an additional 296,665 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Sonic by 5.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,110,995 shares of the restaurant operator’s stock worth $28,275,000 after buying an additional 54,605 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Sonic by 2.0% in the second quarter. State Street Corp now owns 1,083,561 shares of the restaurant operator’s stock worth $28,707,000 after buying an additional 21,420 shares during the last quarter.

SONC has been the subject of several research reports. Oppenheimer restated a “buy” rating and set a $29.00 price target on shares of Sonic in a report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Sonic from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Thursday, September 28th. Guggenheim reiterated a “buy” rating and issued a $31.00 target price (up from $29.00) on shares of Sonic in a research note on Thursday, December 28th. BidaskClub upgraded shares of Sonic from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, Canaccord Genuity lifted their target price on shares of Sonic from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $29.64.

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Sonic Company Profile

Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.

Insider Buying and Selling by Quarter for Sonic (NASDAQ:SONC)

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